The Financial Exchange Show
A talk radio show that provides comprehensive analysis on the economy and the latest breaking business news, while also providing insight on the markets and its impact on your personal finances.
Episodes
June 26, 2026 • 38 mins
Inflation remains stubborn, oil prices are falling, and investors are trying to determine whether Kevin Warsh’s Federal Reserve will be willing to act if price pressures stay too high.
Mike Armstrong and Marc Fandetti break down why markets appear to believe the Fed can keep inflation from becoming entrenched, why Warsh’s early focus on price stability may matter, and how the end of forward guidance could change ...
Mike Armstrong and Marc Fandetti break down why markets appear to believe the Fed can keep inflation from becoming entrenched, why Warsh’s early focus on price stability may matter, and how the end of forward guidance could change ...
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June 26, 2026 • 38 mins
Tech stocks are under pressure as investors question whether the AI trade still has room to run, even after Micron delivered blockbuster earnings and confirmed strong demand for memory chips.
Mike Armstrong and Marc Fandetti break down why Micron’s results show that AI infrastructure demand remains intense, why hardware suppliers may be poor leading indicators for the future of the AI boom, and how past technology bubb...
Mike Armstrong and Marc Fandetti break down why Micron’s results show that AI infrastructure demand remains intense, why hardware suppliers may be poor leading indicators for the future of the AI boom, and how past technology bubb...
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June 25, 2026 • 38 mins
The AI boom is still driving massive spending and strong earnings across the tech supply chain, but the industry now faces a growing challenge: convincing workers, communities, and consumers that the technology will help more than it hurts.
Mike Armstrong and Paul Lane break down why AI companies are funding new efforts to study the technology’s impact on the labor market, why the public may be more focused on job loss...
Mike Armstrong and Paul Lane break down why AI companies are funding new efforts to study the technology’s impact on the labor market, why the public may be more focused on job loss...
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June 25, 2026 • 38 mins
The latest inflation data came in exactly as expected, but that does not make it good news for the Federal Reserve or consumers still dealing with prices rising faster than the Fed’s target.
Mike Armstrong and Paul Lane break down why core inflation remains too high, why Apple’s price hikes on Macs and iPads show how AI demand is starting to hit consumer electronics, and how memory chip shortages could keep press...
Mike Armstrong and Paul Lane break down why core inflation remains too high, why Apple’s price hikes on Macs and iPads show how AI demand is starting to hit consumer electronics, and how memory chip shortages could keep press...
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June 24, 2026 • 38 mins
Oil prices are dropping below $70 a barrel as more tankers exit the Strait of Hormuz, but the longer-term risk premium around Middle East energy flows may not disappear as quickly as crude prices have fallen.
Chuck Zodda and Marc Fandetti break down why oil and gas prices are easing, why tanker costs and insurance risks may stay elevated after the Hormuz disruption, and what still needs to happen for energy markets to fully ...
Chuck Zodda and Marc Fandetti break down why oil and gas prices are easing, why tanker costs and insurance risks may stay elevated after the Hormuz disruption, and what still needs to happen for energy markets to fully ...
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June 24, 2026 • 38 mins
Semiconductor stocks have become one of the biggest drivers of the market, but the violent moves in memory chip names are raising new questions about whether the AI trade is starting to look stretched.
Chuck Zodda and Marc Fandetti break down why parabolic moves in chip stocks can create risk for the broader market, how semiconductor companies have historically struggled to sustain profit margins through full cycles, and why...
Chuck Zodda and Marc Fandetti break down why parabolic moves in chip stocks can create risk for the broader market, how semiconductor companies have historically struggled to sustain profit margins through full cycles, and why...
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June 23, 2026 • 38 mins
Inflation remains the central problem for the Federal Reserve, even as falling gas prices may give consumers some near-term relief and pull headline inflation lower in the months ahead.
Mike Armstrong and Marc Fandetti break down why core inflation is still running too hot, why wages failing to keep pace with prices creates pressure for households, and how the Fed is trying to separate temporary oil shocks from longer-lastin...
Mike Armstrong and Marc Fandetti break down why core inflation is still running too hot, why wages failing to keep pace with prices creates pressure for households, and how the Fed is trying to separate temporary oil shocks from longer-lastin...
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June 23, 2026 • 38 mins
Global markets are selling off as investors reassess the AI trade, with chip stocks, space-related names, and other high-growth companies facing renewed pressure after a powerful run higher.
Mike Armstrong and Marc Fandetti break down why daily market moves are hard to explain, how stretched valuations are raising the stakes for AI investors, and why the boom could play out very differently depending on whether the technolog...
Mike Armstrong and Marc Fandetti break down why daily market moves are hard to explain, how stretched valuations are raising the stakes for AI investors, and why the boom could play out very differently depending on whether the technolog...
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June 22, 2026 • 37 mins
Markets are struggling to find direction as investors watch renewed uncertainty around the Strait of Hormuz, falling oil prices, and another wave of volatility in high-profile stocks like SpaceX.
Mike Armstrong and Paul Lane break down the latest developments in U.S.-Iran talks, why tanker traffic through the Strait of Hormuz remains critical for oil and gas prices, and why energy markets remain so difficult to predict. They...
Mike Armstrong and Paul Lane break down the latest developments in U.S.-Iran talks, why tanker traffic through the Strait of Hormuz remains critical for oil and gas prices, and why energy markets remain so difficult to predict. They...
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June 22, 2026 • 38 mins
Oil prices are falling as the U.S. and Iran continue talks, but the Strait of Hormuz remains the key pressure point for energy markets, gas prices, and the broader economy.
Mike Armstrong and Paul Lane break down the latest signs of tanker traffic returning through the Strait of Hormuz, why Iran has a strong economic incentive to keep oil moving, and why energy markets remain difficult to predict even as crude prices fall. T...
Mike Armstrong and Paul Lane break down the latest signs of tanker traffic returning through the Strait of Hormuz, why Iran has a strong economic incentive to keep oil moving, and why energy markets remain difficult to predict even as crude prices fall. T...
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June 18, 2026 • 42 mins
Stocks are rallying as oil prices keep falling after the U.S.-Iran agreement, but investors are still trying to sort through a market shaped by Fed changes, Middle East uncertainty, and a massive wave of AI spending.
Chuck Zodda and Mike Armstrong break down why lower oil and gas prices are helping calm markets, how renewed tanker traffic through Hormuz could reduce energy risks, and why volatility has not fully gone away. T...
Chuck Zodda and Mike Armstrong break down why lower oil and gas prices are helping calm markets, how renewed tanker traffic through Hormuz could reduce energy risks, and why volatility has not fully gone away. T...
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June 18, 2026 • 38 mins
The U.S. and Iran have signed a memorandum of understanding, and early signs of renewed tanker movement through the Strait of Hormuz are easing some of the worst-case fears around oil supply and gas prices.
Chuck Zodda and Mike Armstrong break down what the agreement could mean for oil flows, why faster production restarts in the Gulf could dramatically reduce summer energy risks, and why the next 60 days still matter. They ...
Chuck Zodda and Mike Armstrong break down what the agreement could mean for oil flows, why faster production restarts in the Gulf could dramatically reduce summer energy risks, and why the next 60 days still matter. They ...
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June 17, 2026 • 38 mins
SpaceX is already one of the biggest stories on Wall Street, but its move to acquire Cursor shows Elon Musk may be trying to turn the company into far more than a space and satellite business.
Chuck Zodda and Paul Lane break down SpaceX’s push deeper into AI, why the company’s massive valuation gives Musk room to make major all-stock deals, and whether a future combination with Tesla could eventually make strateg...
Chuck Zodda and Paul Lane break down SpaceX’s push deeper into AI, why the company’s massive valuation gives Musk room to make major all-stock deals, and whether a future combination with Tesla could eventually make strateg...
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June 17, 2026 • 37 mins
Kevin Warsh is facing his first major test as Fed chair, with investors watching for any change in how the Fed communicates, how it views inflation, and whether it is willing to stay patient with interest rates.
Chuck Zodda and Paul Lane preview Warsh’s first Fed decision and press conference, including whether he may scale back the Fed’s public messaging and what markets should expect from the latest economic pr...
Chuck Zodda and Paul Lane preview Warsh’s first Fed decision and press conference, including whether he may scale back the Fed’s public messaging and what markets should expect from the latest economic pr...
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June 16, 2026 • 38 mins
Anthropic’s most advanced AI models are raising new questions about national security, corporate adoption, and whether businesses can safely build around tools that may be restricted or pulled back by the government.
Mike Armstrong and Paul Lane break down why the U.S. government moved to limit access to Anthropic’s Fable 5 and Mythos models, what those restrictions could mean for companies trying to use AI, and ...
Mike Armstrong and Paul Lane break down why the U.S. government moved to limit access to Anthropic’s Fable 5 and Mythos models, what those restrictions could mean for companies trying to use AI, and ...
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June 16, 2026 • 38 mins
Oil prices are falling on hopes for a U.S.-Iran deal, but the global energy market may already be changing as countries rethink how much they can rely on the Strait of Hormuz and other vulnerable supply chains.
Mike Armstrong and Paul Lane break down how the Iran conflict could permanently reshape global energy strategy, why oil prices may be pricing in too much optimism, and how China could benefit from the push toward ener...
Mike Armstrong and Paul Lane break down how the Iran conflict could permanently reshape global energy strategy, why oil prices may be pricing in too much optimism, and how China could benefit from the push toward ener...
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June 15, 2026 • 36 mins
Markets are rallying on hopes that the Strait of Hormuz could reopen, but the bigger question is whether the proposed U.S.-Iran agreement will restore oil flows quickly enough to prevent another late-summer energy shock.
Chuck Zodda and Mike Armstrong break down the latest market reaction to the preliminary Iran agreement, why shipping traffic through Hormuz still matters more than political headlines, and what lower oil pri...
Chuck Zodda and Mike Armstrong break down the latest market reaction to the preliminary Iran agreement, why shipping traffic through Hormuz still matters more than political headlines, and what lower oil pri...
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June 15, 2026 • 38 mins
Markets are rallying as the U.S. and Iran move closer to an interim agreement, but the biggest question is whether the Strait of Hormuz will actually reopen fast enough to relieve pressure on global oil supplies.
Chuck Zodda and Mike Armstrong break down what is known about the proposed Iran deal, why energy markets still face a tight timeline, and how continued inventory drawdowns could keep pressure on gas prices later thi...
Chuck Zodda and Mike Armstrong break down what is known about the proposed Iran deal, why energy markets still face a tight timeline, and how continued inventory drawdowns could keep pressure on gas prices later thi...
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June 12, 2026 • 38 mins
SpaceX has officially started trading after the largest IPO in history, giving investors their first real look at how much demand there is for Elon Musk’s newly public space and technology empire.
Chuck Zodda and Mike Armstrong break down the first trades in SpaceX, why IPOs often bring major volatility, and how retail investors were able to access shares through select platforms and pre-IPO funds. They also discuss re...
Chuck Zodda and Mike Armstrong break down the first trades in SpaceX, why IPOs often bring major volatility, and how retail investors were able to access shares through select platforms and pre-IPO funds. They also discuss re...
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June 12, 2026 • 38 mins
SpaceX is making its long-awaited public debut in the largest IPO ever, with investors watching to see how the market absorbs a massive new stock offering and whether the excitement around Elon Musk’s space company can hold up once trading begins.
Chuck Zodda and Mike Armstrong break down the SpaceX IPO, why the stock is expected to open well above its offering price, and what the surge in related space stocks says abo...
Chuck Zodda and Mike Armstrong break down the SpaceX IPO, why the stock is expected to open well above its offering price, and what the surge in related space stocks says abo...
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